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Solana treasury DeFi Development authorizes CHAD preferred stock buyback program
The Block ·
The Block reports: Nasdaq-listed DeFi Development Corp. authorized a program to repurchase up to all outstanding shares of its CHAD preferred stock, including shares it may issue in the future. This gives the company flexibility to buy back the securities if they trade below their $10 par value. The Solana treasury company does not currently intend to repurchase CHAD and first wants the security to establish itself at or around par, according to the press release. "Our first objective is…